Settlement will be done on T+2 basis
On Tuesday 20 September, PFRDA has issued a release in this regard. In it, he has said that the time taken for the subscriber to withdraw money from NPS has been reduced. If the withdrawal request of the Subscribers of Protein Agov Technologies is authorized by 10:30 AM, the same will be settled on T+2 basis and if the request of the subscribers of KFIN Technologies and CAMS is authorized by 11 AM, the settlement will be done. Will be done on T+2 basis.
Enhanced IT system capability
There are many central record keeping agencies for the subscribers of NPS. These include Protein Agov Technologies, CAMS and KFIN Technologies. It has been said on behalf of PFRDA that they are trying to reduce the expression of settlement of other transactions as well. These will be implemented step by step. He said in this release that the pension funds have improved the system interface and CRAS. He has greatly increased the capacity of his IT system. So that multiple transactions can be done easily.
There is government support in this scheme.
This scheme is supported by the government. National Pension Scheme is a retirement related scheme. This scheme was started in the year 2004 for government employees and this scheme was started in the year 2009 for others. There are different options for the subscribers according to its risk appetite.